The Odyssey: What a 3,000-Year-Old Story Can Teach Us About Estate Planning

Christopher Nolan's film The Odyssey is already one of the most anticipated cinematic releases in years. Bringing Homer's epic poem to a new audience, it tells the story of Odysseus, a king who leaves home to fight in the Trojan War and embarks on an extraordinary twenty-year journey before finally returning to his family.

At first glance, it might seem an unusual place to look for lessons in estate planning. Yet beneath the battles, mythical creatures and heroic adventures lies a story about family, uncertainty and the importance of planning for the unexpected.

When Odysseus set sail, he had every reason to believe he would return. Like many people, he couldn't possibly have imagined how dramatically life would change. His absence wasn't measured in weeks or months, but in decades. During that time, his wife Penelope was left to manage their household alone while raising their son, Telemachus, who grew up without his father.

It's a reminder that none of us knows what tomorrow will bring.

Most people don't leave home expecting an accident, a serious illness or a sudden loss of mental capacity. Yet these situations occur every day, often leaving families trying to make important decisions at the very moment they're least prepared to do so.

One of the biggest misconceptions about estate planning is that it's simply about deciding who inherits your assets after you've died. In reality, some of the most valuable planning you can do concerns what happens while you're still alive.

For example, if illness or an accident meant you could no longer manage your own affairs, who would pay your bills? Who could deal with your bank? Who would make decisions about your property or your medical care?

Many people assume their husband, wife or adult children would automatically have the authority to step in. Unfortunately, that's not how the law works. Without the appropriate Lasting Powers of Attorney, those closest to you may find themselves unable to act, even with the very best intentions.

The story of The Odyssey also highlights something else that often gets overlooked: uncertainty.

For years, Penelope had no definitive answers. Was Odysseus alive? Would he ever return? What decisions should she make about the future? While thankfully most families won't face circumstances quite so dramatic, uncertainty is something we encounter regularly in estate planning. The clearer your wishes are, the easier it becomes for those you leave behind to make decisions with confidence.

A professionally prepared Will provides that clarity after death. Lasting Powers of Attorney provide it during your lifetime. Together, they ensure that the people you trust are able to act when it matters most.

After more than 38 years helping individuals, families and business owners plan for the future, I've learnt that estate planning isn't about expecting the worst. It's about recognising that life rarely follows the script we've written for ourselves.

Odysseus eventually found his way home, but his journey was far longer and more challenging than anyone could have predicted.

While we can't control the twists and turns life may throw at us, we can make sure the people we love aren't left facing uncertainty if our own journey takes an unexpected direction.

Perhaps that's the real lesson from The Odyssey. Hope for the best, but always have a plan.